Further, a firming trend in the domestic spot markets for the upcoming festive and marriage season, covering up of short positions by speculators also influenced gold futures prices here, traders said.
At the Multi Commodity Exchange, metal prices for delivery in far-month December went up by a whopping Rs 1,060, or 3.65 percent, to trade above Rs 30,000 level at Rs 30,077 per ten gram, a level last seen in March. It clocked a turnover of 122 lots.
On the similar lines, the metal prices for delivery in October shot up by Rs 1,039, or 3.56 percent, to Rs 30,225 per 10 gm, in a business volume of 2,186 lots.
Analysts attributed gains in the precious metal at futures trade to a firm trend in the overseas markets where it climbed to two-month highs as lower equities and signs of rising physical purchases spurred demand.
Besides, hike in import duty on the precious metal by 2 percent to 10 percent by the government, also influenced prices, they said.


Latest News  from Business News Desk